Tax time can be stressful...
Posts
Cash, Check or Credit
Does your business accept cash, credit cards and checks? As a business owner, you need to be smart about how you handle these transactions. Learn about how you can manage these transactions in our three part article series from the Small Business Administration. __________________________________________________________________ ACCEPTING CREDIT CARDS Credit and debit cards are popular, convenient, flexible, and have become increasingly important in business commerce. If your business is considering what forms of payment to accept, or if you'd like to expand the payment options of your cash-only business, be sure to go over the pros and cons of accepting card payments. Pros of Accepting Card Payments: Card payments are evolving into the most common method of customer payment. Businesses can easily accept card payments. The convenience of using credit cards generally increases the likelihood of consumer "impulse purchases," which ultimate...
Cash, Check or Credit? continued....
Does your business accept cash, credit cards and checks? As a business owner, you need to be smart about how you handle these transactions. Learn about how you can manage these transactions in our three part article series from the Small Business Administration. __________________________________________________________________ ACCEPTING CHECKS Although credit and debit card payments are on the rise, the expenses and additional record-keeping involved with card payments are not ideal for all businesses. If you want to expand your customer payment options beyond cash but aren't ready to make the leap to card payments, accepting checks is another option to consider, but to protect the financial health of your business, make sure you understand the laws that regulate check payment policies. Policies for Accepting Checks If your business accepts personal checks, establish a detailed check acceptance policy to help identify and avoid bad checks. ...
Cash, Check or Credit?
Does your business accept cash, credit cards and checks? As a business owner, you need to be smart about how you handle these transactions. Learn about how you can manage these transactions in our three part article series from the Small Business Administration. __________________________________________________________________ CASH ONLY Cash is the most commonly accepted and reliable form of payment for a business. Many small businesses operate as "cash only" merchants. Years ago this wouldn't have been uncommon, but with advances in technology, business owners must ask themselves if they're hurting their bottom line by limiting payment options. If you're thinking about starting a cash only business or if you're considering expanding your payment options, be aware of the pros and cons of only accepting cash. Pros of accepting only cash: · Cash payments ensure that businesses receive funds immediately. ...